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Fraud

Fraud is usually taken to mean the gaining of an illicit advantage through deception and in particular the manipulation of financial information or accounting records. The word “fraud” has been used for many years in this context, but an exact internationally recognised definition is less easy to determine.

Some further discussion is contained in our paper Business and Economic Crime in an International Context (PDF 308KB/24 pages). In the UK, the criminal offence of fraud has been codified by the Fraud Act 2006.

Fraud Act 2006

This defines the criminal offence of fraud in the UK. It includes offences of fraud by:

  • False representation;
  • Failing to disclose information; and 
  • Abuse of position,
  • a number of other offences relating to fraud.

Fraud Advisory Panel

A registered charity established by ICAEW which works on the prevention of fraud through legal and procedural reform and through the provision of advice to individuals and businesses.

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